STORY OF THE WEEK
Bank financing is still the only way for most real estate companies

Story of the week

09
Apr
2021

Bank financing is still the only way for most real estate companies

by Property Forum
The latest online panel discussion by Property Forum focused on real estate financing strategies in the second pandemic year. Influential bankers, CFOs and advisors discussed, with the moderation of Csanád Csürös, CEO of Property Forum, how the perception of real estate as an asset class has changed and how the pandemic impacted financing conditions.
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Office

09
Apr
2021

Pavăl Holding to open new HQ in Bucharest

by Property Forum
Pavăl Holding, the group controlled by the founders of DIY chain Dedeman, will have a new HQ in Bucharest. The holding is revamping Vila Hlebnikian that will serve as its main office. Construction works on the 2,800 sqm building will be completed by 2023, according to Profit.ro.   
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Atenor secures building permit for Budapest office project Savills to manage Szyperska Office Center in Poznań Romania's office sublease market reaches record volume

Industrial

09
Apr
2021

WDP Romania certifies 48 logistics buildings

by Property Forum
WDP Romania, the developer and owner of industrial and logistics spaces, has received the Excellence in Design for Greater Efficiency (EDGE) certification for its local stock of warehouses. EDGE was created by IFC, part of the World Bank. It helps property owners and developers build and operate green buildings in a fast and affordable way. The certifications apply to WDP warehouses ranging from 2,500 sqm to more than 60,000 sqm. 
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CTP expands portfolio in northern Bucharest Plana-Nova builds regional logistics centre in Bucharest CBRE to manage Cromwell’s Czech and Slovak warehouses

Residential

09
Apr
2021

Romanian housing prices up 2% in Q4 2020

by Property Forum
House prices in Romania went up by 2% in the fourth quarter of 2020 compared to the same quarter of the previous year, while across the European Union (EU) the average growth rate was 5.7%, according to Eurostat.
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Investment

09
Apr
2021

Qualis Properties bonds start trading on Bucharest Stock Exchange

by Property Forum
Brașov-based real estate developer Qualis Properties has listed its bonds on the Bucharest Stock Exchange (BVB). The company carried out a private placement through which it attracted almost €2.1 million, by selling 3-years maturity bonds with a fixed yearly interest of 9%. 
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Immofinanz sells four Warsaw office buildings to Indotek Nordis Group buys over 23,000 sqm of land in Mamaia Panattoni sells Lódź City VIII warehouse for €28 million

Career

09
Apr
2021

John McKie appointed MD of CA Immo Hungary

by Property Forum
John McKie will join CA Immo Hungary as Managing Director from 1 June 2021. In this function, he takes over responsibility for the Hungarian business activities, including asset management, leasing, marketing and tenant relations.
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JLL appoints Alexandra Tomášková as Head of Office Solutions Diófa Asset Management appoints new officials

Hotel

08
Apr
2021

Accor adds Romanian hotel to Mercure chain

by Property Forum
Hotel chain Accor has signed a management contract with the owner of Binderbubi Hotel & Spa in Mediaș. As part of the agreement signed with local company Daflog, the hotel will be the seventh in Romania to join the Mercure network. 
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Nordis Group plans leisure hotel chain in Romania B&B Hotels allocates €180 million to development Radisson announces COVID-19 testing program for guests and events

Retail

08
Apr
2021

Kaufland Romania investments to reach €375 million in 2021

by Property Forum
Hypermarket chain Kaufland, part of German Schwarz Group, has increased its investment target in Romania in 2021. In 2020, the company opened 20 new stores, purchased land, and carried out upgrade works as part of a €300 million investment effort. 
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Good first quarter of 2021 for Dino retail network Penny to use photovoltaic panels for Romanian warehouses C&W Echinox: Romania has five counties without modern retail centers

Report

08
Apr
2021

S Immo reports €56.9 million profit for 2020

by Property Forum
S Immo generated a profit of €56.9 million for the financial year 2020, closing the year well in the black despite the COVID-19 crisis.
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CPI announces dismissal of NY defamation lawsuit Colliers presents top predictions for the Albanian market in 2021 Prague’s PBSA market set to grow further

Interview

07
Apr
2021

Retail developer SES plans new projects in CEE

by Ákos Budai
Without a doubt, the pandemic has brought many changes for the retail market but many developers see this as a time for trailblazers. Christoph Andexlinger, Chief Operations Officer at SES Spar European Shopping Centers discussed with Property Forum the effects the pandemic had on the company’s operations and shared some details about future plans.
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Logistics adapted the fastest to the new reality Cavatina Holding prepares for IPO and has big plans for Polish cities

Economy

30
Mar
2021

Gdynia plans for another 20,000 inhabitants

by Property Forum
The authorities of Gdynia state that the maximum amount of useable residential floor space that the city needs by 2045 could be as high as 11.29 million sqm. With this much space around 266,000 people could live in the city – currently, there are around 246,000. For the city's further development both public and private investment is needed. The restrictions imposed because of the pandemic have harmed both sectors. The city of Gdynia has announced that most of the planned investments will be completed, some will be delayed, and others are to be developed as PPP projects.
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Facade materials market in Poland to reach €900 million by 2026 Romania records Europe’s strongest GDP growth in Q4 2020 Polish construction industry likely to recover in H2 2021

New leases

  • IT companies drEryk and Innergy have leased space from Cavatina Holding in the Tischnera Office building in Kraków and will take up a combined 1,200 sqm.
  • Pyroll, a Scandinavian paper and cardboard manufacturer has decided to prolong the lease of 13,000 sqm of warehousing space in Diamond Business Park Stryków for another 5 years. Diamond Business Park Stryków is owned by White Star Real Estate.
  • 108 Agency has mediated a lease renewal of 5,300 sqm for Czech company Country Life in Prologis Park Prague-Rudná.

New appointments

  • Karolina Furmańska has joined the Consulting & Research team of Cushman & Wakefield Poland as a Senior Residential Analyst with responsibility for advisory to PRS clients. Prior to joining C&W, she was a member of JLL’s Living Investment Team, which was responsible for transaction advisory comprising rental apartments, purpose-built student accommodation, co-living and other income-producing assets in the residential sector.
  • JLL Hungary has appointed Balázs Agócs as Workplace Strategy Director from April 2021. JLL will expand not only with another leadership position but also with the Workplace Solutions service line. In his new role, Balázs will help JLL's customers to make faster and more efficient workplace- and real estate strategy decisions. He will closely cooperate with the teams of Tenant Representation and Project & Development Services.
  • Razvan Botezatu has been named Operations Manager of Romanian real estate developer Nordis Group. He will oversee the development strategy of the company. He has 10 years' worth of experience in the corporate sector. The group develops luxury residential and hotel projects in Bucharest and regional cities.

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